Johnson & Johnson May Be Offering a Trading Opportunity With Its Cross Above Its 50 Moving Average

The Hourly View for Johnson & Johnson

  • At the moment, JNJ’s price is down $-0.19 (-0.12%) from the hour prior.
  • The hourly chart shows that Johnson & Johnson has seen 2 straight down hours.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Of note is that the 50 hour changed directions on JNJ; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Johnson & Johnson’s hourly price chart is shown below.

JNJ

The Daily View for Johnson & Johnson

  • At the moment, JNJ’s price is down $-1.34 (-0.81%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between JNJ’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in JNJ’s price.

Below is a daily price chart of Johnson & Johnson.

JNJ

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